Many of today’s top companies underestimate the importance of business to business branding. When businesses succeed at this enterprise, they can often boost their profits by up to 20 percent. There are many different strategies that can be employed in doing business to business marketing. These tips can help your growing business to succeed in the current competitive marketplace.
What Is Business to Business Branding?
Business to business branding is the way that you present your business to other companies. It includes your logo, mission, vision, trademarks, products, slogans, website, social media posts and more. It also includes the way you represent your business in the public eye, such as through press releases, press conferences, and written publications. Each staff member’s business card is also a part of the branding.
What Is the Branding Hierarchy for Business to Business Marketing?
There is a hierarchy in business to business branding. It begins with those that are unbranded. Next is recognition from one business to another. After that, businesses recognize positioning of other companies, such as their level of success or expertise with a particular type of product or service. Personality is one rung higher on the hierarchy. With personality, businesses understand the general philosophy and how another business works. The view on the world comes after personality, which refers to how a business sees itself in relation to all of the other organizations in their industry. Finally, company and policy are at the top of the branding hierarchy. Most businesses are stuck at the recognition stage, which means that there is plenty of room for improvement.
Determining Touch Points for Branding
A holistic view of business to business branding goes beyond logos and taglines. In addition to having a consumer relations division, most large corporations would do well to also have a business relations division. This helps to manage brand reputations and perceptions from other businesses. Some common touch points to focus on may include social media, product usage, corporate sponsorships and training of the professional sales force.
How to Know When Your B2B Branding Is Successful
With successful branding, one business will ask for you directly. Not for your product, but for your specific business. The brand is what other business leaders refer to when they speak of you. Branding is also advantageous when it carries a premium value and when the brand has personality that is beyond the product.